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Replaces the existing section heading and text of 7 U.S.C. 3505 and adds a new subsection (b) requiring the Secretary to annually prepare and make publicly available a report describing holdings of agricultural land by foreign persons (including State- and county-level analyses, country-specific analyses for the People’s Republic of China and the Russian Federation, analyses of other countries as the Secretary determines appropriate, and sector/industry analyses) and to transmit that annual report to each State department of agriculture or appropriate State agency in conjunction with the applicable reports transmitted under subsection (a).
Amends the reporting provisions in 7 U.S.C. 3501(a) to add leases to the kinds of interests in agricultural land that must be reported.
Inserts additional text into the definition of 'agricultural land' at 7 U.S.C. 3508(1) by adding material immediately before the terminating semicolon of that subsection.
Adds a new subparagraph (vii) to 50 U.S.C. 4565(a)(4)(B) to make acquisitions or transfers of interests in real estate located not more than 50 miles from a military installation covered transactions, with an exception for certain residential property held by nationals/organizations of specified foreign countries.
Requires additional national-security review and new limits on foreign control of U.S. agricultural land. It expands CFIUS authority to cover purchases, transfers, and leases of agricultural real estate (including certain deals already pending), brings real estate within 50 miles of military installations into review, bars federal assistance for agricultural land owned by nationals or entities of specified foreign countries, and requires USDA to publish an annual, country- and county-level report on foreign-held agricultural land (with special notice for China and Russia). The bill bases foreign-country triggers on (1) countries designated as nonmarket economies under the Tariff Act and (2) countries identified as national-security risks in the Director of National Intelligence’s latest Annual Threat Assessment.
Amend Section 721(a)(4) of the Defense Production Act of 1950 (50 U.S.C. 4565(a)(4)) by modifying subparagraph (A): revise punctuation in clauses (i) and (ii) and add a new clause (iii) that covers transactions described in clause (vi) or (vii) of subparagraph (B) that are proposed or pending on or after the date of enactment of this clause.
Add new clause (vi) to subparagraph (B) to make subject to review “any acquisition or transfer of an interest, other than a security, in agricultural land” when the land is held by a person that is a national of, or is organized under the laws or otherwise subject to the jurisdiction of, certain foreign countries.
Define the first country trigger for subparagraph (B)(vi): countries designated as a nonmarket economy pursuant to section 771(18) of the Tariff Act of 1930.
Define the second country trigger for subparagraph (B)(vi): countries identified as posing a risk to United States national security in the most recent Annual Threat Assessment issued by the Director of National Intelligence under section 108B of the National Security Act of 1947.
The added clause (A)(iii) specifies that the coverage includes any transaction described in clause (vi) or (vii) of subparagraph (B) that is proposed or pending on or after the date of enactment of this clause.
Who is affected and how:
Foreign persons and foreign-connected investors: Directly affected. Nationals and entities of countries designated under the Tariff Act nonmarket-economy list or flagged by the DNI would face new CFIUS reviews and could be denied federal assistance or blocked from transactions; leasing and smaller acquisitions would be more likely to trigger disclosure and review.
U.S. farmers, landowners, and rural communities: May face slower or more uncertain sales, leases, or financing when potential buyers or investors are from covered countries. Some transactions could be blocked or lose eligibility for federal programs if ownership triggers the assistance ban. Reporting changes could increase transparency about foreign holdings in local communities.
Real estate market participants and developers: Transactions near military installations (within 50 miles) will face added regulatory scrutiny, increasing transaction costs, delays, or deal uncertainty for both domestic and foreign buyers.
Federal agencies and CFIUS: CFIUS workload will expand to cover more agriculture- and proximity-based real-estate transactions. Federal agencies that administer agricultural assistance must screen recipients and refuse assistance when ownership matches the covered-country criteria, potentially requiring new compliance systems.
USDA and State agriculture agencies: USDA must collect, analyze, and publish detailed country- and county-level data on foreign-held agricultural land annually and distribute the report to State agencies, increasing data-management and reporting responsibilities.
National security and military installations: The changes aim to reduce perceived security risks from foreign ownership close to bases by creating a proximity-based review regime and limiting foreign control over nearby land.
Potential secondary effects:
Net effect summary: The legislation tightens national-security controls over foreign holdings of agricultural land, increases transparency through reporting, and restricts federal assistance to properties owned by nationals or entities of certain foreign countries — improving oversight but likely increasing transaction costs, administrative burden, and potential market uncertainty.
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Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Introduced March 12, 2025 by James Lankford · Last progress March 12, 2025
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Introduced in Senate